Reds Co-owner Hicks promises new stadium

Liverpool co-owner Tom Hicks has insisted the club will build a new stadium, but only when the world’s financial climate improves.

The Reds are struggling to raise the £500million needed to build a new home because of the recession despite Hicks’ sale of baseball outfit Texas Rangers.

Hicks is set to pocket £450million from the imminent sale of his baseball franchise, but he has stated that the money cannot be used to fund a new Liverpool stadium.

“Rangers and Liverpool are totally separate investments, so there is no connection.

“I do plan to keep a significant participation in the Rangers. We are close to winning our division. I want to finish what we have started.

“Liverpool will obtain stadium financing when the financial market opens back up. We have all of our permits and will be ready when the market is ready,” Hicks told the Daily Post.